BENTLEY SYSTEMS INC-CLASS B (BSY) Stock Fundamental Analysis
USA - NASDAQ:BSY - US08265T2087 - Common Stock
52.66 USD
-0.28 (-0.53%)
52.66 USD
0 (0%)
Taking everything into account, BSY scores 5 out of 10 in our fundamental rating. BSY was compared to 280 industry peers in the Software industry. BSY scores excellent on profitability, but there are concerns on its financial health. While showing a medium growth rate, BSY is valued expensive at the moment.
1. Profitability
1.1 Basic Checks
In the past year BSY was profitable.
BSY had a positive operating cash flow in the past year.
In the past 5 years BSY has always been profitable.
BSY had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BSY has a better Return On Assets (7.43%) than 80.36% of its industry peers.
The Return On Equity of BSY (21.88%) is better than 88.21% of its industry peers.
BSY has a better Return On Invested Capital (10.54%) than 86.43% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BSY is below the industry average of 11.85%.
The last Return On Invested Capital (10.54%) for BSY is above the 3 year average (8.00%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.43% | ||
| ROE | 21.88% | ||
| ROIC | 10.54% |
ROA(3y)7.42%
ROA(5y)7.4%
ROE(3y)30.01%
ROE(5y)29.96%
ROIC(3y)8%
ROIC(5y)10.54%
1.3 Margins
BSY's Profit Margin of 17.91% is amongst the best of the industry. BSY outperforms 81.79% of its industry peers.
In the last couple of years the Profit Margin of BSY has grown nicely.
The Operating Margin of BSY (23.82%) is better than 89.29% of its industry peers.
In the last couple of years the Operating Margin of BSY has grown nicely.
With an excellent Gross Margin value of 81.18%, BSY belongs to the best of the industry, outperforming 83.57% of the companies in the same industry.
BSY's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.82% | ||
| PM (TTM) | 17.91% | ||
| GM | 81.18% |
OM growth 3Y5.52%
OM growth 5Y3.69%
PM growth 3Y21.55%
PM growth 5Y4.39%
GM growth 3Y1.43%
GM growth 5Y0.13%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BSY is destroying value.
BSY has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, BSY has more shares outstanding
The debt/assets ratio for BSY has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 4.82 indicates that BSY is not in any danger for bankruptcy at the moment.
BSY has a better Altman-Z score (4.82) than 68.21% of its industry peers.
The Debt to FCF ratio of BSY is 2.87, which is a good value as it means it would take BSY, 2.87 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 2.87, BSY is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
BSY has a Debt/Equity ratio of 1.07. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of BSY (1.07) is worse than 75.71% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | 2.87 | ||
| Altman-Z | 4.82 |
ROIC/WACC0.99
WACC10.62%
2.3 Liquidity
A Current Ratio of 0.51 indicates that BSY may have some problems paying its short term obligations.
BSY has a worse Current ratio (0.51) than 88.93% of its industry peers.
A Quick Ratio of 0.51 indicates that BSY may have some problems paying its short term obligations.
BSY has a worse Quick ratio (0.51) than 88.93% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.51 | ||
| Quick Ratio | 0.51 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 7.69% over the past year.
The Earnings Per Share has been growing by 12.41% on average over the past years. This is quite good.
BSY shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.45%.
BSY shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 12.93% yearly.
EPS 1Y (TTM)7.69%
EPS 3Y8.4%
EPS 5Y12.41%
EPS Q2Q%3.23%
Revenue 1Y (TTM)10.45%
Revenue growth 3Y11.93%
Revenue growth 5Y12.93%
Sales Q2Q%10.22%
3.2 Future
BSY is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.99% yearly.
BSY is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.16% yearly.
EPS Next Y14%
EPS Next 2Y12.68%
EPS Next 3Y13.91%
EPS Next 5Y14.99%
Revenue Next Year10.02%
Revenue Next 2Y10.2%
Revenue Next 3Y10.37%
Revenue Next 5Y9.16%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 47.02 indicates a quite expensive valuation of BSY.
Compared to the rest of the industry, the Price/Earnings ratio of BSY is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 27.27. BSY is valued rather expensively when compared to this.
BSY is valuated quite expensively with a Price/Forward Earnings ratio of 38.76.
The rest of the industry has a similar Price/Forward Earnings ratio as BSY.
When comparing the Price/Forward Earnings ratio of BSY to the average of the S&P500 Index (22.77), we can say BSY is valued expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.02 | ||
| Fwd PE | 38.76 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BSY is valued a bit cheaper than the industry average as 66.43% of the companies are valued more expensively.
67.86% of the companies in the same industry are more expensive than BSY, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 36.86 | ||
| EV/EBITDA | 42.67 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates BSY does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of BSY may justify a higher PE ratio.
A more expensive valuation may be justified as BSY's earnings are expected to grow with 13.91% in the coming years.
PEG (NY)3.36
PEG (5Y)3.79
EPS Next 2Y12.68%
EPS Next 3Y13.91%
5. Dividend
5.1 Amount
BSY has a yearly dividend return of 0.52%, which is pretty low.
Compared to an average industry Dividend Yield of 40.28, BSY pays a better dividend. On top of this BSY pays more dividend than 90.00% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, BSY's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.52% |
5.2 History
BSY has been paying a dividend for over 5 years, so it has already some track record.
BSY has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years2
Div Non Decr Years4
5.3 Sustainability
BSY pays out 30.98% of its income as dividend. This is a sustainable payout ratio.
DP30.98%
EPS Next 2Y12.68%
EPS Next 3Y13.91%
52.66
-0.28 (-0.53%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)
Earnings (Next)
Inst Owners43.68%
Inst Owner Change3.87%
Ins Owners40.42%
Ins Owner Change-2.02%
Market Cap15.99B
Analysts76.84
Price Target60.57 (15.02%)
Short Float %4.54%
Short Ratio4.26
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.52% |
Yearly Dividend0.24
Dividend Growth(5Y)N/A
DP30.98%
Div Incr Years2
Div Non Decr Years4
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12.63%
Min EPS beat(2)11.45%
Max EPS beat(2)13.82%
EPS beat(4)2
Avg EPS beat(4)4.8%
Min EPS beat(4)-4.04%
Max EPS beat(4)13.82%
EPS beat(8)6
Avg EPS beat(8)11.84%
EPS beat(12)10
Avg EPS beat(12)12.54%
EPS beat(16)14
Avg EPS beat(16)14.49%
Revenue beat(2)1
Avg Revenue beat(2)-0.42%
Min Revenue beat(2)-0.85%
Max Revenue beat(2)0.02%
Revenue beat(4)1
Avg Revenue beat(4)-1.15%
Min Revenue beat(4)-2.61%
Max Revenue beat(4)0.02%
Revenue beat(8)3
Avg Revenue beat(8)-0.77%
Revenue beat(12)5
Avg Revenue beat(12)-0.29%
Revenue beat(16)8
Avg Revenue beat(16)0.07%
PT rev (1m)8.21%
PT rev (3m)13.73%
EPS NQ rev (1m)-0.67%
EPS NQ rev (3m)-2.25%
EPS NY rev (1m)2.32%
EPS NY rev (3m)2.32%
Revenue NQ rev (1m)0.13%
Revenue NQ rev (3m)0.37%
Revenue NY rev (1m)0.2%
Revenue NY rev (3m)0.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 47.02 | ||
| Fwd PE | 38.76 | ||
| P/S | 11.26 | ||
| P/FCF | 36.86 | ||
| P/OCF | 35.67 | ||
| P/B | 13.76 | ||
| P/tB | N/A | ||
| EV/EBITDA | 42.67 |
EPS(TTM)1.12
EY2.13%
EPS(NY)1.36
Fwd EY2.58%
FCF(TTM)1.43
FCFY2.71%
OCF(TTM)1.48
OCFY2.8%
SpS4.68
BVpS3.83
TBVpS-4.77
PEG (NY)3.36
PEG (5Y)3.79
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.43% | ||
| ROE | 21.88% | ||
| ROCE | 13.19% | ||
| ROIC | 10.54% | ||
| ROICexc | 10.92% | ||
| ROICexgc | N/A | ||
| OM | 23.82% | ||
| PM (TTM) | 17.91% | ||
| GM | 81.18% | ||
| FCFM | 30.55% |
ROA(3y)7.42%
ROA(5y)7.4%
ROE(3y)30.01%
ROE(5y)29.96%
ROIC(3y)8%
ROIC(5y)10.54%
ROICexc(3y)8.22%
ROICexc(5y)11.91%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)10%
ROCE(5y)13.18%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y4.29%
ROICexc growth 5Y-15.93%
OM growth 3Y5.52%
OM growth 5Y3.69%
PM growth 3Y21.55%
PM growth 5Y4.39%
GM growth 3Y1.43%
GM growth 5Y0.13%
F-Score8
Asset Turnover0.41
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | 2.87 | ||
| Debt/EBITDA | 3.1 | ||
| Cap/Depr | 22.78% | ||
| Cap/Sales | 1.02% | ||
| Interest Coverage | 28.61 | ||
| Cash Conversion | 111.55% | ||
| Profit Quality | 170.63% | ||
| Current Ratio | 0.51 | ||
| Quick Ratio | 0.51 | ||
| Altman-Z | 4.82 |
F-Score8
WACC10.62%
ROIC/WACC0.99
Cap/Depr(3y)27.47%
Cap/Depr(5y)32.2%
Cap/Sales(3y)1.59%
Cap/Sales(5y)1.72%
Profit Quality(3y)148.6%
Profit Quality(5y)185.51%
High Growth Momentum
Growth
EPS 1Y (TTM)7.69%
EPS 3Y8.4%
EPS 5Y12.41%
EPS Q2Q%3.23%
EPS Next Y14%
EPS Next 2Y12.68%
EPS Next 3Y13.91%
EPS Next 5Y14.99%
Revenue 1Y (TTM)10.45%
Revenue growth 3Y11.93%
Revenue growth 5Y12.93%
Sales Q2Q%10.22%
Revenue Next Year10.02%
Revenue Next 2Y10.2%
Revenue Next 3Y10.37%
Revenue Next 5Y9.16%
EBIT growth 1Y15.23%
EBIT growth 3Y18.11%
EBIT growth 5Y17.09%
EBIT Next Year16.45%
EBIT Next 3Y14.28%
EBIT Next 5Y10.9%
FCF growth 1Y27.87%
FCF growth 3Y15.91%
FCF growth 5Y22.26%
OCF growth 1Y23.69%
OCF growth 3Y14.76%
OCF growth 5Y20.58%